damn no progress out of ideas

Kind of sounds like a TFI module.

Search jrichker's posts about TFI's. He's got a write up on diagnosing it as well.

If you still have the ignition system and coil that were working prior to putting the MSD system in, it's probably a good idea to put them back in and see if the problem is still there. If so, it's likely your TFI. Conversely, if the problem is gone, it's probably one of those aftermarket pieces. I had the same problem with an old Accel ignition box, but putting the old stuff back in solved my problem so I eventually ended up blaming the Accel box, by process of elimination with the coil and TFI.

Dump the codes and see what the computer says is wrong… Codes can be present without setting the Check Engine Light.

Here's the link to dump the computer codes with only a jumper wire or paper clip and the check engine light, or test light or voltmeter. I’ve used it for years, and it works great.

See http://www.troublecodes.net/Ford/
OR
See http://www.mustangworks.com/articles/electronics/eec-iv_codes.html

IF your car is an 86-88 stang, you'll have to use the test lamp or voltmeter method. There is no functional check engine light on the 86-88's except possibly the Cali Mass Air cars.

Codes have different answers if the engine is running from the answers that it has when the engine isn't running. It helps a lot to know if you had the engine running when you ran the test.

Trouble codes are either 2 digit or 3 digit, there are no cars that use both 2 digit codes and 3 digit codes.

For those who are intimidated by all the wires & connections, see http://www.actron.com/product_detail.php?pid=16153 for what a typical hand scanner looks like. Normal retail price is about $30 or so at AutoZone or Walmart.

Or for a nicer scanner see http://www.midwayautosupply.com/detailedproductdescription.asp?3829 – It has a 3 digit LCD display so that you don’t have to count flashes or beeps.. Cost is $35.

WalMart may have the above LCD display scanner for less than $35.